https://www.taxtmi.com/caselaws?id=353952 The Tribunal upheld the CIT(A)'s decision to restrict the disallowance of bogus purchases to 12.5% of the profit rate, citing the appellant's business nature and evidence of genuine transactions. The Revenue's appeal challenging the CIT(A)'s order was dismissed, with the Tribunal supporting the decision based on the reconciliation of purchase and sales, application of profit rate, and lack of doubt on material consumption. The validity of the CIT(A)'s order was affirmed, emphasizing adherence to specific case facts and evidence presented. en-us Fri, 10 Nov 2017 00:00:00 +0530 Tue, 16 Jan 2018 09:23:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353952 The Tribunal upheld the CIT(A)'s decision to restrict the disallowance of bogus purchases to 12.5% of the profit rate, citing the appellant's business nature and evidence of genuine transactions. The Revenue's appeal challenging the CIT(A)'s order was dismissed, with the Tribunal supporting the decision based on the reconciliation of purchase and sales, application of profit rate, and lack of doubt on material consumption. The validity of the CIT(A)'s order was affirmed, emphasizing adherence to specific case facts and evidence presented. Case-Laws Income Tax Fri, 10 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353952